System and Method for Acquiring a Cryptocurrency in Exchange for Completing a Financial Transaction of Another

Abstract

System and method to provide for acquiring a cryptocurrency via an exchange. A cryptocurrency owner's financial transaction is completed by another in exchange for an amount of cryptocurrency equal to the cost of completing the financial transaction, plus a premium, when the financial transaction cannot be paid for using the cryptocurrency owner's cryptocurrency.

1 . A method to acquire cryptocurrency, comprising:
 using a credit card to complete a cryptocurrency owner's financial transaction, wherein the cryptocurrency owner is neither an owner or authorized user of the credit card that is used to complete the financial transaction; and   in exchange for completing the financial transaction, paying cryptocurrency equal to the cost of the financial transaction, plus a premium in the same type of cryptocurrency, to a cryptocurrency wallet chosen by the credit card owner or authorized user of the credit card used to complete the financial transaction.   
     
     
         2 . The method of  claim 1 , including the step of an authorized user of the credit card designating the cryptocurrency wallet to receive payment. 
     
     
         3 . The method of  claim 1 , wherein the financial transaction includes a payment type that does not include a cryptocurrency. 
     
     
         4 . The method of  claim 1 , wherein the credit card is a group, the group comprising one of a credit card, a credit line, a debit card, a prepaid card, a checking account, a brokerage account, a wire transfer, a savings account, and a cryptocurrency of a different type than the type of cryptocurrency that is paid to the cryptocurrency wallet. 
     
     
         5 . The method of  claim 1 , wherein the payment is made by a trustee of a trust that holds cryptocurrency. 
     
     
         6 . The method of  claim 1 , wherein the premium diminishes for the duration that the financial transaction remains incomplete. 
     
     
         7 . The method of  claim 1 , wherein the premium is not fixed. 
     
     
         8 . The method of  claim 1 , further comprising the step of selecting the credit from among a group comprising least two credit cardholders. 
     
     
         9 . A cryptocurrency exchange system, comprising:
 a processor programmed to allow a payor party to accept a cryptocurrency owner's offer to complete a financial transaction, wherein the financial transaction is not a purchase of cryptocurrency; and   a means to authorize a payment to a cryptocurrency wallet of the payor party in exchange for completing the cryptocurrency owner's financial transaction.   
     
     
         10 . The system of  claim 9 , wherein the payment authorized is equal to the cost of the financial transaction plus a premium. 
     
     
         11 . The system of  claim 9 , wherein the means to authorize payment includes a multi-signature security protocol that requires a majority of private key holders to authorize the payment, and one of the private keys is not held by the payor party or cryptocurrency owner. 
     
     
         12 . The system of  claim 9 , wherein the payor is selected from among two or more potential payors by a criterion, the criterion includes selecting the payor who agrees to accept the least amount of cryptocurrency. 
     
     
         13 . The system of  claim 9 , wherein the financial transaction is a group, the group including one of a payment of an installment contract, a mortgage payment, and a reoccurring payment that is neither an installment contract payment or a mortgage payment. 
     
     
         14 . The system of  claim 9 , wherein the authorized payment is less than the cost to complete the financial transaction. 
     
     
         15 . A system to pay cryptocurrency as consideration for completing a financial transaction, comprising:
 a means of authorizing a payment to a cryptocurrency wallet of a credit cardholder when it is verified that a credit card of the credit cardholder was used to complete a financial transaction; and   making the payment to the cryptocurrency wallet.   
     
     
         16 . The system of  claim 15 , wherein the means of authorizing payment is done by a smart contract. 
     
     
         17 . The system of  claim 16 , wherein the smart contract includes the condition that at least a majority of private key holders must agree to authorize payment when there are at least three parties having a private key that can authorize payment. 
     
     
         18 . The system of  claim 17 , wherein at least one of the private key holders is neither the credit cardholder or the owner of the cryptocurrency. 
     
     
         19 . The system of  claim 15 , wherein the credit cardholder is selected from among two or more credit cardholders. 
     
     
         20 . The system of  claim 15 , wherein the payment amount is at least equal to the cost of completing the cryptocurrency owner's financial transaction.